Profit and Loss problems
- 1. If two mixers and one T.V. cost Rs. 7000, while two T.V.s and one mixer cost Rs. 9800. The value of one T.V. is?
Options- A. Rs. 2800
- B. Rs. 2100
- C. Rs. 4200
- D. Rs. 8400 Discuss
Correct Answer: Rs. 4200
Explanation:
2 x + y = 7000 ....(i)
x + 2 y = 9800 .....(ii)
Solving (i) and (ii), we get,
y = 4200
- 2. The cost price of an article, which on being sold at a gain of 10% yields Rs. 6 more than when it is sold at a loss of 10% is?
Options- A. Rs. 30
- B. Rs. 25
- C. Rs. 24
- D. Rs. 20 Discuss
Correct Answer: Rs. 30
Explanation:
10% profit - 10% loss = 6
? 20% of cost price = Rs. 6
? Cost Price = (6 x 100)/ 20 = Rs. 30.
- 3. An umbrella marked at Rs. 80 is sold for Rs. 68. The rate of discount of?
Options- A. 15%
- B. 12%
- C. 1711/17
- D. 20% Discuss
Correct Answer: 15%
Explanation:
Rate of discount = (12 / 80) x 100% = 15%
- 4. The marked price is 10% higher than the cost price. A discount of 10% is given on the marked price. In this kind of sale, the seller?
Options- A. Bears no loss, no gain
- B. Gains
- C. Losses 1%
- D. None of these Discuss
Correct Answer: Losses 1%
Explanation:
Let the cost price be Rs. 100.
So market price = 100 + 10% of 100 = 110
Selling price = 110 - 10% of 110 = 99.
So, net loss = 1%
- 5. A dealer marks his goods 20% above cost price. He then allows some discount on it and markets a profit of 8%. The rate of discount is?
Options- A. 12%
- B. 10%
- C. 6%
- D. 4% Discuss
Correct Answer: 10%
Explanation:
Let C.P. = Rs. 100
? Marked price = Rs. 120,
? S.P. = Rs. 108
? Rate of discount = (12/120) x 100% = 10%
- 6. By selling an article for Rs. 144, a man gained such that the percentage gain equal the cost price. The C.P. of the article is?
Options- A. Rs. 60
- B. Rs. 64
- C. Rs. 72
- D. Rs. 80 Discuss
Correct Answer: Rs. 80
Explanation:
Let the cost price of article be P.
So from question,
Selling price = P + P%
? 144 = P + (P x P)/100
? 144 x 100 = 100P + P2
? P2 + 100P - 14400 = 0
? (P - 80)(P +180) = 0
? P = 80
- 7. A man purchases an electric heater whose printed price is Rs. 160. If he received two successive discounts of 20% and 10% he paid?
Options- A. Rs. 112
- B. Rs. 129.60
- C. Rs. 119.60
- D. Rs. 115.20 Discuss
Correct Answer: Rs. 115.20
Explanation:
Price after 1 st discount = 80% of Rs. 160 = Rs. 128
Price after 2nd discount = 90% of Rs. 128 = Rs. 115.20
- 8. There would be 10% loss if rice is sold at Rs. 5.40 per kg. At what price per kg should it be sold to earn a profit of 20%?
Options- A. Rs. 7.20
- B. Rs. 7.02
- C. Rs. 6.648
- D. Rs. 6 Discuss
Correct Answer: Rs. 7.20
Explanation:
Let C.P. per kg be Rs. x then,
x - 10% of x = 5.40
? x = 6
? Required S.P. = Rs. [6 + 20% of 6] = Rs. 7.20
- 9. A person buys a book for ? 200 and sells it for ? 225. What will be his gain percent?
Options- A. 13%
- B. 14%
- C. 18.4%
- D. 12.5% Discuss
Correct Answer: 12.5%
Explanation:
Given that, CP = ? 200 and SP = ? 225
Profit = SP - CP = 225 - 200 = ? 25
? Gain% = [profit/CP] x 100%
= (25/200) x 100% = 12.5%
- 10. A person buys a watch for ? 500 and sells it for ? 300. Find his loss per cent.
Options- A. 30%
- B. 40%
- C. 35%
- D. 45% Discuss
Correct Answer: 40%
Explanation:
Given that CP = ? 500 and SP = ? 300
Loss = CP - SP = 500 - 300 = ? 200
? Loss % = (Loss/CP) x 100%
= (200/500) x 100% = 40 %
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